2,620 companies operate in Dubai Silicon Oasis, an increase of 161 companies from 2017 reflecting a rise of 6%. In 2018 revenues topped AED 576.9 million whilst net profits stood at AED 292.4 million
HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), recently announced that the integrated free zone technology park achieved remarkable results during 2018 with a total revenue of AED 576.9 million, as well as overall net profit of AED292.4 million in comparison with AED 205.7 million in 2017, marking a surge of 42.1%.
For his part, Dr. Mohammed Al Zarooni, Vice Chairman and CEO, DSOA, emphasised the significant role played by the integrated environment of DSOA in providing opportunities for investment, innovation and entrepreneurship. He highlighted the contribution of startups to the country’s economy and to attracting experts from all over the world.
Dr Al Zarooni announced the addition of several new companies operating in the technology sector to the DSO community. The total number of companies based in DSO increased by 161 – from 2,459 in 2017 to 2,620 in 2018, marking a rise of 6%.
Among the companies based in DSO, 37% are from the Middle East and Africa, 23% from Europe, 33% from Asia, and 7% from the Americas. 81% of these companies specialise in technology, while 19% focus on commercial services and other service sectors.
Silicon Park is 87% complete
Dr Al Zarooni pointed out that Silicon Park, Dubai’s first integrated smart city project in DSO, achieved 87% completion, and is scheduled for handover in Q2-2019. Silicon Park comprises 71,000 sqm of office space, 25,000 sqm of commercial space, 46,000 sqm of residential area, as well as a host of value-added contemporary lifestyle facilities.
Light Industrial Units
DSOA completed the construction of Phase 6 of the Light Industrial Units project, one of its strategic investments that contribute to enhancing DSO’s position as a preferred destination for industrial companies. The development is in line with DSOA’s strategy to create an integrated business environment and technology infrastructure that provides ready solutions to existing and potential customers looking to build their headquarters or expand their business in the region. The total investment in Light Industrial Units since DSOA’s establishment reached approximately AED 324 million.
Dubai Blockchain Commercial Registry Project
In line with the Emirates Blockchain Strategy 2021, launched by HH Sheikh Hamdan bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, DSOA in partnership with the Department of Economic Development (DED) unveiled the Dubai Blockchain Business Registry Project.
The initiative seeks to enable the Unified Commercial Registry (UCR), the first blockchain-powered trade license repository launched by DED, to store and update company registration information issued by DED as well as the free zone authorities in Dubai.
Aimed at streamlining the process of setting up and operating a business, the collaboration is a result of DSOA’s relentless efforts to build synergies that leverage the strengths of its partners in the public and private sector to fast-track Dubai’s goal of becoming one of the smartest cities in the world.
